Precision Castparts (PCP) Price Target Raised to $265 at UBS

UBS today maintained a Buy rating on Precision Castparts (NYSE: PCP) and boosted its price target to $265.00 (from $218.00). Analyst David E. Strauss thinks Precision Castparts can hit or exceed its targeted FY16 EPS range at $15.50-16.50, and he thinks the stock has room to run.

"We are raising our EPS estimates on higher Timet accretion along with a combination of increased shipset content and market share gains. We see the potential for further EPS upside as our estimates do not yet incorporate beyond 10/month on 787 or utilization of $5B+ in FCF that we forecast PCP will generate through FY16," said Strauss.

"We now see Timet contributing well over $2.00 in FY16-17. In addition, we have increased our estimates to incorporate the acquisition of high margin Permaswage," he said.

For an analyst ratings summary and ratings history on Precision Castparts (NYSE: PCP) click here. For more ratings news on Precision Castparts click here.

Shares of Precision Castparts closed at $235.01 yesterday.

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